The board of directors at Rex American Resources Corp. approved the addition of 500,000 common shares to a buyback offer, the company said June 24. When the previous 31,138 shares are added to this amount, Rex American can now buy back 531,138 shares.

To date, the company has repurchased 466,444 shares priced at $62.53 each. Currently, there are 7,436,331 outstanding shares. The second quarter ends July 31.

Rex American said all repurchased shares will be held in treasury for possible future use, and that buybacks can be made on the public market or in a private transaction.

Dayton, Ohio-based Rex American Resources Corp. has interests in six ethanol production facilities.